Sequoia Financial Advisors LLC Takes $448,000 Position in ArcBest Co. (NASDAQ:ARCB)

Sequoia Financial Advisors LLC bought a new stake in ArcBest Co. (NASDAQ:ARCB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,727 shares of the transportation company’s stock, valued at approximately $448,000.

A number of other hedge funds have also modified their holdings of ARCB. Allworth Financial LP raised its position in shares of ArcBest by 15,450.0% in the third quarter. Allworth Financial LP now owns 311 shares of the transportation company’s stock valued at $32,000 after buying an additional 309 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of ArcBest in the second quarter valued at about $37,000. Ancora Advisors LLC acquired a new stake in shares of ArcBest in the first quarter valued at about $56,000. Point72 Hong Kong Ltd acquired a new stake in shares of ArcBest in the second quarter valued at about $58,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ArcBest by 1,668.9% in the first quarter. Tower Research Capital LLC TRC now owns 796 shares of the transportation company’s stock valued at $73,000 after buying an additional 751 shares during the last quarter. 99.27% of the stock is currently owned by institutional investors and hedge funds.

ArcBest Trading Down 6.2 %

Shares of ARCB stock opened at $140.00 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $3.29 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.49. The company has a 50-day moving average of $140.66 and a two-hundred day moving average of $123.38. ArcBest Co. has a 1-year low of $82.18 and a 1-year high of $153.60.

ArcBest (NASDAQ:ARCB) last posted its quarterly earnings data on Tuesday, February 6th. The transportation company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.22 by $0.25. ArcBest had a net margin of 4.41% and a return on equity of 15.91%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $2.45 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, analysts predict that ArcBest Co. will post 10.05 EPS for the current year.

ArcBest Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, February 15th. ArcBest’s payout ratio is 6.07%.

Insider Activity

In other news, insider Erin K. Gattis sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $141.58, for a total value of $283,160.00. Following the completion of the transaction, the insider now owns 32,247 shares of the company’s stock, valued at $4,565,530.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

ARCB has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of ArcBest from $155.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus raised their price objective on shares of ArcBest from $153.00 to $159.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of ArcBest from $168.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. UBS Group raised their price objective on shares of ArcBest from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, StockNews.com upgraded shares of ArcBest from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, ArcBest presently has an average rating of “Moderate Buy” and a consensus price target of $151.54.

ArcBest Company Profile

ArcBest Corporation, an integrated logistics company, engages in the provision of ground, air, and ocean transportation solutions. It operates through two segments: Asset-Based and Asset-Light. The Asset-Based segment provides less-than-truckload (LTL) services, that transports general commodities, such as food, textiles, apparel, furniture, appliances, chemicals, non-bulk petroleum products, rubber, plastics, metal and metal products, wood, glass, automotive parts, machinery, and miscellaneous manufactured products.